As they say 'everyday you hold, you choose to buy again'. It's a tough one that requires real trust (and conviction) that pancon is doing what they need to do to make progress. We've had a retrace over 12 months from 2.8cents, to 0.005cent (82.14%, which is absolutly wild), with very little change to the top 20 register (which is also wild - and demonstrates that major holders are here for the long term). The orange basin as a locale continues to get closer and closer to first FID (ie 'nearology' is beter and better). It appears a bidding war behind closed doors has almost concluded for Galp pel83 - this is big money, don't be mistaken. WDS exit has left a sour taste and market skeptisim (no doubt) - but in recent quarterly we are led to bellieve we have "Strong industry interest receieved in PEL 87 farmin opportunity fro a combination of supermajors, large independents and national oil companies (nocs)".
The simple question I think all holders need to ask is 'do I think Saturn will get a drill? - yes/no?. If this drops to 0.008, I'll be trying to buy (because I believe it's a question of 'when' a drill occurs, not 'if'). I also have a time horizon long enough to hold into early 2028 (if needed - ie, end of their 2nd license extention) - albiet it should all be done & dusted by then for little Pancon. The clock is ticking, and large oil assets are being saught after by majors globally - oil is here for a while longer yet. https://www.reuters.com/business/energy/oil-demand-growth-continue-no-peak-sight-opec-secretary-general-says-2025-06-10/
Obiously I'm bullish (and patient). More than welcome devils advocate thoughts - but important to remember, a sp is not the company, nor the opportunity should it be converted.
PCL Price at posting:
1.0¢ Sentiment: Buy Disclosure: Held
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